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This press release is issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”).
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VANCOUVER, British Columbia, Feb. 13, 2025 (GLOBE NEWSWIRE) — In connection with the closing of the non-brokered private placement (the “Financing”) of AIP Realty Trust (“AIP” or the “Trust”) in which AIP issued 5,200,000 Preferred Units – Series B Convertible (each, a “Preferred Unit”), at a price of US$0.50 per Preferred Unit for aggregate gross proceeds of US$2,600,000, Patrick A. Robinson Holdings Corp. (“Robinson”) of Vancouver, British Columbia, a corporate investment company for its beneficial holder, acquired ownership and control of 2,000,000 Preferred Units for aggregate consideration of US$1,000,000 (or $1,430,700 ($0.7156 per Preferred Unit) based on the Bank of Canada’s daily average exchange rate for February 11, 2025, being US$1.00 = $1.4307). Prior to the closing of the Financing, Robinson did not own any securities of AIP. Following closing, Robinson owns and controls, directly or beneficially, an aggregate of 2,000,000 Preferred Units representing approximately 14.48% of the issued and outstanding voting securities of the Trust.
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The Preferred Units purchased by Robinson were acquired in the Financing and such purchase did not take place through the facilities of any market for the Trust’s securities. The acquisition of the Preferred Units by Robinson was effected for investment purposes and Robinson may increase or decrease its investments in the Trust at any time, or continue to maintain its current investment position, depending on market conditions or any other relevant factor.
This portion of this new release is issued pursuant to NI 62-103, which also requires an early warning report for Robinson to be filed on SEDAR+ (www.sedarplus.com) containing additional information with respect to the foregoing matters. A copy of the related early warning report may be obtained on the Trust’s SEDAR+ profile once filed or by contacting Leslie Wulf or Greg Vorwaller, on behalf of Robinson, in accordance with the contact information provided below.
About AIP Realty Trust
AIP Realty Trust is a real estate unit investment trust with a growing portfolio of AllTrades branded Service Industrial Business Suite light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. For more information, please visit www.aiprealtytrust.com.
For further information from the Trust, contact:
Leslie Wulf
Executive Chairman
(214) 679-5263
les.wulf@aiprealtytrust.com
Or
Greg Vorwaller
Chief Executive Officer
(778) 918-8262
Greg.vorwaller@aiprealtytrust.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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